Platino Condominium

Platino a new luxury condominium, located within thriving neighbourhood of MetroEast-Udini, is set to be the prestigious address of the area.

Distinctive contemporary architecture strategically angles Platino’s two tall towers to take in striking views of Penang Bridge, Georgetown and the sea. Views which residents will be able to admire from the 228 freehold sky bungalows.

The condominium is near to the Penang Bridge, next to TESCO Hypermarket and e-Gate, a retail and F&B hub. It is conveniently a short drive from Penang’s vital destinations such as Georgetown, Penang Bridge, Penang International Airport and Pulau Jerejak Jetty.

Property Project : Platino Condominium
Location : Gelugor, Penang
Property Type : Condominium
Tenure : Freehold
No. of Blocks : 2
No. of Storeys : 25
Total Units : 228 ( Tower A - 115 units, Tower B - 113 units)
Units per Floor : 5
Built-up Area: 1,819 - 2,659 sq.ft. (Typical), 3,850 - 6,405 sq.ft. (Duplex/Penthouse)
Developer : IJM Properties

Facilities / Amenities
Swimming pool, wading pool, Jacuzzi, Sauna, Gym, Tennis court, Pavilion, Landscape garden, Water fall / water features, Security, Function room, All units with minimum 2 car parks lots (basement car park).

838 comments«Oldest ‹Older 1 – 200 of 838 Newer› Newest»

February 28, 2008 at 3:59 PMAnonymous: any information for this project? what is the target price for this IJM project? Pls help to update, many thanks
February 29, 2008 at 7:48 AMAnonymous: during soft launch, roughly RM400 per sqft. The latest prices you better check with IJM.
March 19, 2008 at 1:14 AMAnonymous: is RM 392 per /squar
and the smaller unit is 1816sq
1816 x RM392 = RM 711,872
still can invest , if i not mistake the Light will be in RM 480per/squar
April 8, 2008 at 4:43 PMAnonymous: 400 per sqft? 700k to 800k is quite cheap. worth to invest. Sure will shut up to 2 mil. plan to inverst 2 units
April 17, 2008 at 9:44 PMAnonymous: When we define luxury condo, it's more about life style.

If u r having small-medium sized family, rich enough and prefer luxury condo living, by all means go for platino. It does has good location & build by reputated developer.

I love it but I'm not rich enough to buy it.
April 24, 2008 at 2:21 PMAnonymous: any one notice there is still 2 piece of big land just right beside Tesco which developer planned to build high rise low cost condo....????/
Then u will think twice whether worth to buy or not....
April 24, 2008 at 5:02 PMAnonymous: I am not local and just hard to believe that we still can invest a RM700K condo. Maybe there are a lot of rich guy in Penang.
I though everybody say condo price will drop in 2008/ 2009?
May 5, 2008 at 11:27 AMAnonymous: Understand that this place will be congested in the future, there'll be a few more buildings coming up around Platino obstructing its sea view. Besides, I do not understand why IJM positioned Bayswater, which is of lower cost, in between Platino & the sea. The more expensive/luxury one ought to be further in front, closer to the sea !!!. Doesn't make sense-lah.
May 8, 2008 at 5:45 PMAnonymous: They must built Bayswater 1st so that speculation will boost the price up to 500K~600K like now. Then Platino price at 700K~800K is more reasonable. If they built later than Platino, people will prefer Platino than Bayswater, with such high price.
IJM will design in such way that those units facing sea will have a view to the ferry, and to the bridge. In between these 2 view is Bayswater. So, no blicking. And they will let bulk buyers/ speculators to book upfront for units with good location (past record 70% for The Spring). Then people will treat it like hot cake and rush for the units with bad view and location. After fully sold, the speculators will let go their units with maybe 50K to 100K higher and claim that their units have better view and location.
Hopfully those guys afford to buy a condo with 700K~800K should able to judge the situation and not to let The Spring story continue.
May 12, 2008 at 12:08 PMAnonymous: very near to power plant!
May 23, 2008 at 10:14 PMAnonymous: just chk with ijm last week. there's still got 2 unit studio in platino. 1076sqf at 3xxk. non-bumi lot sold out, now just left only bumi lot... i registered while its convert to non-bumi. quite good for investment.
May 24, 2008 at 11:51 AMAnonymous: How many studio units are there in Platino?
May 26, 2008 at 11:59 PMAnonymous: there's oni 2 studio units in platino. each block got 1 unit oni, both also at 14th floor. the maintanence fee for studio unit rm2xx oni then u can enjoy a luxury life style. but it come wif 1 parking lot oni.

so i oponion studio unit hv big potential in future. big city like kl,bangkok,ny... studio unit r very popular n the damand r high. so sure 1 2 buy tis unit while its converted.

cheers,
ww
May 27, 2008 at 1:06 AMAnonymous: i heard next to platino will built 2 high-end block condo. ijm not open sale for local, they aim for korean only. its also got studio unit. the price about rm700sqf with f/f. r u sure the platino studio at only rm3xxsqf???
May 27, 2008 at 12:53 PMAnonymous: Yes, only for korean and already sold out. RM400 per sqft. That project called Pearl Regency.
May 27, 2008 at 7:36 PMAnonymous: The sales for Platino does not seems to be too good. Still quite alot of units not taken up yet. The Pearl Regency must be better than Platino.
May 28, 2008 at 2:02 PMAnonymous: Why only for Koreans?
June 1, 2008 at 7:51 PMAnonymous: Well very simple.... at rm700psf, would you buy? But at around USD200psf its a steal by Korean standard. They would!!!

But why Korean? My guess...tht's my guess only okay. The traditional foreign market for Penang property would be Japan, Singapore, Indonesia, USA, UK n Middle East countries. Many developer opens up to tht market, the investors there got plenty of choices. Competition is stronger... especially marketed at RM700psf.
I went to their Korean website, I cant read Korean. But it seems like it start from USD400k a unit.
Compared to Gurney Paragon west tower which is marketed in Japan. Rm440psf x 2800sqft = RM1.3m = USD380k a unit. Better location, much bigger unit, shopping complexes just downstairs. Kinda no brainer right?
I'd say IJM is smart to penetrate this Korean market.
June 3, 2008 at 10:56 AMAnonymous: Is there any bumi lots for malaysian? Can they sell the whole building to foreigners?
June 8, 2008 at 3:38 PMAnonymous: the land was bought by koreans and they let IJM uilt for thme... sure they wud only sell to koreans la...
July 7, 2008 at 10:02 PMAnonymous: the koreans can buy the land and appoint IJM as their builder.however,they still need to allocate 30% to bumi unless the state/federal authorities waived the requirement
talking about US 200/sq feet which of course is peanuts to our wealthy NE Asians we must take into account that this is penang island with a tiny population of 700k vis a vis seoul metropolis with no less than 15 million inhabitants.by the way seoul properties is a shade of the value of the premier property market in asia ie HK singapore dubai and shanghai.

i dont think rich koreans would make malaysia their 2nd home.most emigres are the middle and lower middle class which do not have the financial clout to lead a decent standard of living in seoul upon retirement not unlike the japs,western counterparts that make this land their 2nd home
July 14, 2008 at 2:12 AMAnonymous: The last time I heard was the only studio a Bumi unit was sold. Has all the Bumi units open for sale yet? Any infor?
July 14, 2008 at 10:00 AMAnonymous: some commend to share about Bayswater project that might be happen to Platino also.

i would like to share some experience for Bayswater condo.

My friend stay at Bayswater which have 3cars and all this while his 3rd car is parking outside of the condo and recently the traffic police is giving sumon daily and as for today my friend already get 8sumon.

He try to drive his 3rd car into Bayswater and park at visitor car park but is rejected by the security, coz the security said he is the resident so cannot park his car inside.

Why this thing happen is because the poor planning for IJM project, can you find any free parking lots at Tesco,Egate area?? No right,so if you have 3rd car mean you need to park your car at road side daily and prepared to get sumon.
My friend did feedback this to IJM for more than 3weeks but get no reply from them, so he need to park his car either at E-gate or Tesco daily and pay for the parking fees. Can you imagine that.

The security guide attitude for Bayswater is 'teruk', espeacially their commander (malay old guy), 1foreigner ladie guy & 1 foreigner young guide. Everytime i visit they just pretent din see your car and seat inside the guide house and let you waiting there until they 'seok' then only attend to you and somemore show their beh siok face to you.
Espeacially when the malay guide that to you it is very rude & etc.

I did complant this to IJM office but at the end also din get any reply. Can you imagine you spend so much to buy a condo but what kind of management & treatment you and your guest get.

No doubt the furnish of this project is not bad, but before you make decision i think you need to take the commend i shared as a consideration.
July 14, 2008 at 2:28 PMAnonymous: sorry for some typo err, should be guard
July 14, 2008 at 7:25 PMAnonymous: have ijm increase the price of the units?
July 16, 2008 at 8:49 PMAnonymous: did anyone know the current price for 2056 or 2099 sq ft for this project? any got any unit available?
July 16, 2008 at 8:53 PMAnonymous: anyone know about the currecnt price for 1819 sq ft or 2059 sq ft
for this this project.
is that worth to buy for this period?
hope somebody can give some advice
July 17, 2008 at 2:53 PMAnonymous: for 2056sqft i think lowest price is 760k plus and above, 1819sqft slightly lower, any how still base on where u facing. facing the mountain will be cheaper and facing the sea will be more expensive (as usual). i like some units which is facing the sea towards the penang bridge with 820k to 1 mil plus.
July 18, 2008 at 7:24 AMAnonymous: my budget until rm650k only. any other suggesion for other project about 2000 sq ft.
platino too expensive. not worth to invest.
July 18, 2008 at 6:20 PMAnonymous: do you think level 3 will have any sea view, or need to get higher for sea view?
July 19, 2008 at 12:23 AMAnonymous: base on landscape, level 2 already higher than tesco...but of course platino will not have best sea view as part of it already blocked by bayswater. Unless +- 1 mil..
July 19, 2008 at 11:05 AMAnonymous: so did anyone know whether price for level 2 for 2056 sq ft facing city view current price for platino? planning to buy a unit for own stay.
July 19, 2008 at 5:48 PMAnonymous: Which level has the construction reached?
July 22, 2008 at 10:05 AMAnonymous: 2nd
July 26, 2008 at 2:28 AMAnonymous: Seems the only last Studio unit was sold. Wanted higher units for better seaview but all taken. Only left units without view and much lower floors. Not worth investing with these units as the price is very high.
July 26, 2008 at 9:53 AMAnonymous: "my budget until rm650k only. any other suggesion for other project about 2000 sq ft.
platino too expensive. not worth to invest."

>> Palm Palladium Type A, 1947 sqft
Next month or early of Sep OC obtain
July 26, 2008 at 6:58 PMAnonymous: how much the price for this lower level. if the price reasonable,i would like to buy for my own stay.
are the price within RM600k to RM650k?
July 26, 2008 at 8:03 PMAnonymous: is that anbody know that bumi lot already release for this project?
because as i know all the sea view side already sold out, only left for bumi lot. anyone can advise for this?
July 26, 2008 at 8:11 PMAnonymous: My response to some comments/questions :

"During soft launch, roughly RM400 per sq ft" (Anonymous, Feb 28, 2008)

- No, I paid RM328 and RM 337 respectively (9th and 17th floors)at soft launch.

...................................

"The sales for Platino does not seems (sic) to be too good" (Anonymous, May 27th, 2008)

- Well there certainly was a scramble to buy at the soft launch but, yes, I understand that sales are now quite slow. However, I believe that IJM's highly popular Bayswater next door experienced the same sales pattern yet upon completion its prices soared.

Estate agents tell me that sales of uncompleted properties in general, in Penang, are now slow (Penangites have had their fingers burned in the past by less reputable developers and, of course, there is more pessimism in the air). Sales of completed condos remain good, though, I am told.

...................................

Regarding the complaint that no free parking in vicinity for a 3rd car at Bayswater......(Anonymous, July 14th, 2008)

- On this congested island, it seems a bit much for condo households to expect free parking for THREE cars or to regularly/permanently deny other residents a car space for their visitors. If one needs to have 3 cars the best thing to do, I think, is to arrange with a neighbour to park in his/her unused allocated space : everywhere in Penang there are lots of condos - and their alloted parking spaces - which remain empty for most of the time.

...................................

"Have IJM increased the price of the units?" (Anonymous, July 14th, 2008)

- Yes. For example, when I last checked a few weeks ago the IJM price for my units had increased from RM598,000 and 614,000 respectively to RM734,000 and 750,000 BUT with a 10% discount so really the purchase price would now be RM660,600 and 675,000.

..................................

"Which level has the construction reached?" (Anonymous, July 19th, 2008)

- For Tower A, Stage 2(a) has been completed (piling and foundation). Tower B has not reached that stage yet.

...................................

Rgds, M
July 27, 2008 at 12:57 AMAnonymous: they are still giving 10% discount now? wanted to buy but think of wait till next year end, need cash to rolling now...
July 27, 2008 at 8:49 AMAnonymous: marcus,
are yr unit under 1819 sq ft or 2056 sq ft? as i know, 1819 unit for bumi all sold out.
are you place yr booking at property fair? whether this period ijm still give discount of 10 pct?
July 27, 2008 at 4:04 PMAnonymous: if ijm still give 10 pct discount, plan to buy a unit forown stay.
but i think all the good view already sold out lah.
July 27, 2008 at 4:47 PMAnonymous: as for my point, i do not mind that the unit not sea view, face city view also can as long as the price under my budget lah and ijm give 10 pct discount.
did any body know that if request for 3rd car park, how much does it cost?
July 27, 2008 at 5:25 PMAnonymous: the view from ivory almost 2000 sq ft only sold for rm690k plus renovation but platino sold until rm700k somemore have to wait until end of 2009. somemore the view have better seaview than platino if compare this 2 project.somemore for future there will be another project call pearl regency in front of platino n beside platino have bayswater wah sure the price will drop.not woth to investlah asthird party point of view. think twice when you buy.
July 29, 2008 at 1:09 AMAnonymous: Hi, in response to questions/comments dated July 27th :

IJM certainly advised that they were offering 10% discount from the quoted price when I enquired a few weeks ago and I wouldn't be surprised if the same offer remains. However, the recently quoted price (at least in the case of my units) is over 22% higher than paid at soft launch so the '10% discounted' price is not as low as the early bird one. But at least the remaining units are (or were recently) still cheaper than some comments suggest.

I was asked which size I bought.... Mine are both Type F, 1,819 sq ft. Yes, I think that most, if not all, of Type F sold quite quickly as they are the smallest and cheapest units(apart from just the two studios). I understand that Types D and E, at 2,099 and 2,056 sq ft respectively, do remain available though (as well as larger units).

I didn't purchase the condos at a property fair, no, but attended the soft launch after having registered, with no obligation, with IJM beforehand.

As for a 'sea view', I think the main selling points of Platino are the luxury specifications and facilities together with location (convenient for industrial zone and with Tesco and Starbucks and restaurants/bars/cafes nearby)and good letting potential rather than any view. (A sea view would be worth yearning for if the waters here were Tahiti blue but they're not - they're often sewage brown or grotty grey anyway).

The quality and success of IJM's Bayswater development next door offer confidence. But of course there is always investment risk, particularly with the current threat of global recession.

Rgds, M
July 29, 2008 at 7:28 AMAnonymous: marcus,
tq very much for the info info.actually i'm more prefer 1819sq ft but is seem all sold out. did you know that bumi lot still available? i would like to call n check see whether bumi lot already release,or else i have to look for bigger sq ft 2056 provided ijm not increase the price so mch lah.if not will turn to other prject.
are you purchase for yr own stay or invetment?
July 29, 2008 at 8:31 AMAnonymous: "how much the price for this lower level. if the price reasonable,i would like to buy for my own stay.
are the price within RM600k to RM650k?"
>> I think so, you can call developer (04-2822182) to confirm.
July 29, 2008 at 12:17 PMAnonymous: fyi...i believe Palm Palladium has type A still available..in fact a week ago they had an 'open house" for viewing of type A..was told that it was going for something like rm530k. by the way ,Marcus, out of curiosity are you local or foreign?
July 29, 2008 at 2:33 PMAnonymous: platino is luxurious condo, palm palladium just a medium cost apartment, not in the same category to compare also. in term of the design n location, platino is impressive and very convinient at e-gate vicinity. palm palldium is very far inside the minden height area, need to drive out far for dining and shopping.
July 29, 2008 at 2:56 PMAnonymous: pp may be medium/upper medium but it has its advantages..firstly low density...nice classy residential area..minden heights well-established housing area...quiet away from noise n traffic..platino may be luxury class etc but dont forget..it is surrounded by n will be surrounded by more n more high rise condos...n I am told low cost flats opposite on recsam land and the lower levels of platino actually face bayswater and the car park..all that noise, traffic, people...its like living in a commercial area in town centre just my comments
July 29, 2008 at 3:20 PMAnonymous: this is called development. if want quiet place, then balik pulau better than palm palladium. a lot of super condo also around gurney area, now e-gate is another hot spot. look at klcc in KL, it is also full with development. dun tell me area with no development is quiet and nice 4 living. haha
July 29, 2008 at 3:45 PMAnonymous: war in between pp & platino buyer. for anonymous that interested on pp, just leave this blog and join pp. then everything will solved here.
July 29, 2008 at 4:44 PMAnonymous: even bayswater also better than palm palladium a lot. platino is futher high end than bayswater, is like compare bmw and proton, funny comparison.
July 29, 2008 at 5:07 PMAnonymous: How you categories Platino and Bayswater as a high-end condominium? Can you explain. What did these condo have in order to be high-end?
July 29, 2008 at 6:30 PMAnonymous: cos its built by IJM... now Spring is also high-end medium cost apartment.. :)
July 29, 2008 at 7:38 PMAnonymous: if i can buy platino condo at around RM580k then i prefer to buy platino than pp. because platino look more high end then pp. i only can decribe pp as medium cost condo only.
did anyone know whether platino current price at rm580k level?
if yes i would like to sell my 2nd house to this condo.
July 29, 2008 at 9:46 PMAnonymous: i remember there aren't any units cost at 580k... 650k above i think, u can check it out at ijm office behind citibank.
August 4, 2008 at 8:54 PMAnonymous: last week i call to ask the current price but its seem no more 10 discount provided for this project. if no discount, no intension to buy this project because not worth and the price too high plus the view all taken by bayswater.
August 7, 2008 at 9:17 PMAnonymous: Bayswater residents are heavy smoker, so do the Platino residents. Dont argue. This is true fact.
Where does the smoke come from?
Of course from the so called "Sea View" SP industrial area.
These two so called high-end condos have smoky Sea view and Roof-top view of the so-called "International Hypermarket named as Tesco".
Ah...forgot, Roof-top view of so called high-end kopitiam named as E-gate. Not bad.

Nowadays ppl like INTERNATIONAL COMMERCIAL building Roof-top. May be this is a trend for the so called IJM-addicted ppl.
This so called "God-like IJM" sells house like drinking water.
Actually nothing wrong with that. They are famous because they are responsible and build quality houses. No doubt for that.
Anyone of you actually realise most of those who bought IJM property actually are investers? They build house for invester, not for you idiot who like to own a house but have to pay more. So, if you have money, GO FOR IJM. This will elevate your status because you own IJM property. IJM is happy but you idiot just follow the trend of stupidity and pay more for a "second-hand" house.
Ah...forgot...The spring is a good name. "Spring of Rubbish Dumpsite", also a smoky HIGH-END condo. High-end because you have the view of the dumpsite where nobody is able to access, or no one ever bother to access. And also the Beatiful and High-end High-Way, you have the view of car speeding away in front of you. Not bad not bad. This is what we called "Development".

So comes to a conclusion, whatever houses build near hypermarket, near industrial area and near other high-rise building and dumpsites are so-called "HIGH-END Houses/Condo"

Why all the rich man's house is so secluded, located near the hillsite, by right, they are rich, they should build their houses near hypermarket, near LRT, near high-way, near industrial area.
Isnt that amazing to have a bungalow or high-end condo in the middle of Penang FTZ? It will be more attractive if the bungalow or high-end condo is built by IJM.
August 11, 2008 at 11:07 PMAnonymous: It appears Sam who critic IJM is a sore looser. Can't afford to buy one so you spill venom. Very bad attitude. I own IJM properties and I am very happy to pay more for it's quality, reliablilty and excelelnt after sale services. IJM deserve it's present standing because they earn it through hard work and provide what the rich demands. For the poorer folks like Sam who can't afford IJM now. My advice is - Work harder and get enough monies to afford IJM's properties, you will find your monies well spent. I am happy and so will you be.
August 12, 2008 at 4:59 AMAnonymous: Well said mate...
August 12, 2008 at 9:25 AMAnonymous: Sam you have the point, strongly agree with you. But i still will go for platino.... hard to find 100% perfect condo for my range of budget...
August 14, 2008 at 12:45 AMAnonymous: What's the progress like? Any photos? I made my 1st 10% payment and wonder when IJM will be asking for the next 10%. Paying cash so I am a bit nervous. The good thing is at least they started working unlike Surin buyers still waiting despite payment made. I hope to move in by 2010 and enjoy this lovely luxurious condo.
August 15, 2008 at 11:02 PMAnonymous: anyone wants to sell type F? How much is type F ah?
August 17, 2008 at 7:58 PMAnonymous: I will said you no nid to worried about platino if nothing special happen it will surely complete on time. Thye are working 7 days a week and sometime until 12am. I always stand in my room to watch the contruction which i feel quite irritating due to the sound of contruction everyday. Hopefully will get rid of all this noisy sound soon (but will take few yrs)include pearl regency is start piling now.

Bayswater resident....
August 18, 2008 at 9:05 PMAnonymous: why don't you consider the uban project near pesta. the smallest unit start from 1845 sq ft to 4101 sq ft. this is also can classified luxury condominium which encompassesa block with 16 storey and total unit only 58.this condo more cheaper than platino. of course if compare the developer ijm most branded n trusted lah. but every unit of this condo also come with 2 carpark n starting price at rm460k n every floor increase by rm3k.
August 18, 2008 at 10:33 PMAnonymous: any idea on how much is the studio unit now? 1076 sq ft?
August 19, 2008 at 2:44 AMAnonymous: The Platino studio at 1070sq ft which is actually a one bedroom condo went for $400- Developer price.I noticed the huge bathroom is the same size as those of the bigger units. Very nice with double basin, separate shower and toilet just like 5 stars hotel. Only 2 units and both sold out.
August 21, 2008 at 10:46 PMAnonymous: heard that the studio unit sold at RM382k for 1076 sq.ft. @ around RM 200 maintainence fee while enjoying luxury condo facilities...
August 25, 2008 at 11:51 PMAnonymous: I own an unit of the Type F 1819 sq ft and invested in this development for several reasons.

1) IJM - the financial health of the developer was a key factor.

2) Featuring 4 gardens, each with an unique theme of spring, summer, autumn and winter.

3) Its proximity to the Penang Bridge. Traveling from the South, it only takes mins to get to it. Additionally, it can be a desired location for ex-pats and professionals working at the nearby Kulim Hi-Tech Park.

Investor from Singapura
August 31, 2008 at 12:41 PMkenjoeT: any 1 know tat studio unit still available? i quite interested. i found tat ijm built another studio in bukit jambul. but compare both project i prefer platino. any1 know tat studio prices?
September 28, 2008 at 1:01 PMPenang Fan: Would someone be very kind to post some picts of the present construction status? I just paid the 2nd payment but cannot see it as I am living overseas. You can also email me: greg22@loveable.com
November 8, 2008 at 4:39 PMKT: Interested in type E block B, anyone would like to sell?
November 14, 2008 at 3:14 PMGnek: The project is now 35% completed as of Nov 13, 2008, according to one of the salespersons.

There are still some high floor units left but psf price has gone up slightly. They are having lucky draws for new buyers.
November 16, 2008 at 10:48 PMMr ABC: Frankly, we planned to buy. because of the good design of the environment and facilities. But now no longer in my plan because we are now looking for places which has less air polluted and peaceful. Well...it doesn't means everyone is as demanding as we are... right? I am welcome if there is any condo out there in Penang which suits my need which less than a million? I cant afford 1 million and above condo.
December 12, 2008 at 6:36 PMPenang Fan: How much are they asking for these days with economy slowing down? I doubt it would be wise they raise the price. Who will pay more these days? I was told they are not selling until it is 80% completed. Those are mostly Bumi lots.
December 12, 2008 at 7:42 PMUnknown: When it was launched it "looked" like a good project..but now look at how congested its getting to be with Pearl Regency comin u next to it.all that noise traffic...more like an expensive concrete jungle. are buyers of platino sure their view will now not be blocked?
January 4, 2009 at 9:16 AMPenang Fan: I was informed that the construction of the building has been running smoothly and well ahead of schedule. Workers are working diligently well into mid-night. IJM is definitely one developer I can trust. Will buy more from them in future. Highly recommended!
January 23, 2009 at 12:46 AMAnonymous: Expect price drop of at least 20% by end of 2009! But your monies in the freezer for now...
January 23, 2009 at 6:30 PMMr ABC: if drop 20%, i will be the first one to queue up :)
January 25, 2009 at 4:21 AMPenang Fan: 50 Bumi units will be released by end of Dec 2009-or when 80% completed whichever come first. Anticipated the developer to sell it at old price of even lesser then original due to the poor economy.
February 27, 2009 at 10:42 PMTACman!: What will be the going price for type A&B now?? Can anyone pls advice
February 28, 2009 at 9:54 PMPenang Fan: Prices are falling so be advised to wait. See recent write-up:
Prices for luxury codos are falling:
"Owner and licensed auctioneer Leong Wye Hoong says more high-end condominiums, in the range of RM250,000, in the Kuala Lumpur city centre (KLCC) have been going under the hammer since the beginning of the year.

Many of the owners of the properties are expatriates who are looking to get rid of their properties while the prices are still high, he adds.

Condominiums in the KLCC vicinity are currently selling for RM1,200 to RM1,500 per sq ft versus RM700 to RM800 some three years ago.

“Prices for such properties have gone down by 10% to 20%. We have a handful of condominiums in the KLCC area up for auction next month and more may be coming up as borrowers default,” Leong cautions.

He foresees prices going down by as much as 30% for the condominiums, going forward, as supply currently exceeds demand and prices need to be low enough to attract bidders".
March 2, 2009 at 6:03 PMUnknown: Anyone can tell me that this project worth buying for investment?
March 7, 2009 at 4:50 AMPenang Fan: Wonder what floor has been reached to date- March 2009? Has there been any price dropped as expected for luxury condos throughout Malaysia? Any feed back appreciated...
March 12, 2009 at 11:36 AMsao: thinking to get one comdo for myself..but kinda confuse now..i think is better hold on and see first.
just cancel the i regency..cause of some issue i just discover, it very very bad. kinda no mood
March 12, 2009 at 1:26 PMAnonymous: can u share on what issue found on i-regency? i am considering on it, pls kindly advice, thanks.
March 12, 2009 at 2:34 PMnoble: as for youngdurian, he is a firestarter - you can see him in most property blogs, not just here. trust him at your own peril!

he makes the most embarassing comments and if he is penangite, then it's a shame to have him. you can obviously make out statements like foam walls, website not up, other developers do it so why not this developer, and all sorts of negativity everywhere and in all blogs. what's his motive? I suggest u email to tophill@email.com or greg22@loveable.com to find out. this is the email that he uses to SOURCE for property. So that may perhaps explain his modus operandi.

May i also add that websites are marketing tools and if the place is selling, then you don't need it. The developer is graded based on the ability to build properties, not website!

Final words to youngdurian is that your narrow-mindedness, your sense of understanding or perhaps even your IQ is a huge damn disgrace to penang!
March 31, 2009 at 10:20 AMPenang Fan: Noble! from what I read you're are the trouble maker not Young Durian. Your posting everywhere to defame Young Durian shows your immaturity and shallowness. What he did was to make buyer aware about certain pitfalls with developers and correct pricing in this bad economy while yours are totally uncalled personal attacks. You even tried to incite others to join your childish antiquities. Shame on you.
April 21, 2009 at 3:34 PMMr ABC: when will the bumi units release?
April 21, 2009 at 5:32 PMHalOooo: now still a lot of units left. you do not need to wait for the bumi units to release if you realy want to buy.
April 25, 2009 at 3:46 AMPenang Fan: HalOooo, how do you know there are many units still available? Did IJM staff told you? Has the price gone up or down?
April 27, 2009 at 1:01 PMnoble: PenangLover, I agree with you. I was too angry at YoungDurian for his antics. I wish to explain i was not trying to incite others rather it was the other way round as i felt the anguish of others being hurt by YoungDurian. I tried to defend them. My posting on various sites was intended to highlight that this blogger should not be trusted & it was not meant to be personal coz i don't know who he/she is. I wish this clarifies my position & i thank you for highlighting your view.
May 1, 2009 at 8:34 PMUnknown: any1 here has any news on pearl regency by IJM?
when are they launching it to locals?
thank you.
May 1, 2009 at 8:36 PMUnknown: i heard its being sold in korea and not in penang.
May 1, 2009 at 8:50 PMUnknown: I have been following up with many comments from every blogs here and I notice that there are 2 different parties here.

Parti Pembangkang and Parti Penyokong.

It is really interesting to see all the different views from the bloggers in these sites. One thing I am not very happy about is when the same blogger tries to give his comments to confuse other readers.

YoungDurian and PenangLover are the same person, he is just using 2 different nicknames.

If you read the central park blog carefully, Penang Lover is a buyer of that property, while PenangLover is very against it.

When you read bayu ferringhi blog, PenangLover condemns that project, while trying to sell the goodness of platino IJM , which is very consistent with his comments in this site and in central park site.

If you have time, take a look at the suites at waterside blog, there you can read the POWER and ARROGANCE projected by YoungDurian aka PenangLover.

I am getting really fed up with his attitude towards other properties in penang, the way he condemns and be-little other purchasers who buy other properties other than IJM’s.

Since we already know his email address, I really hope a real estate agent will email him and meet him up, take his picture and show his face to the rest, as I am very sure many readers are very interested to meet him in person.

Property blogs are mainly to share ideas and thoughts on how to improve and educate others, NOT to damage the integrity of other developers and feeding the readers with false information and facts or unsupported predictions to mislead them, while having a hidden agenda by promoting properties which they themselves purchase.
May 4, 2009 at 11:51 AMnoble: G'day 'invest'!

Thanks for sharing and highlighting the above. Come to think of it, ya, YoungDurian also used the term "shame on you" or along those lines, before... hahaha, & i had to be courteous to PenangLover - gosh!

I agree with your comments. I guess everyone has their motive. As bloggers all we can do is to highlight and hope others are able to pick it up too.. but ya, sad to see Penang propery blogs damaged by some bad apples. The comments were so absurd at times, that Penangites were made to look like airheads.

I don't think IJM would resort to such pariah tactics of slandering other projects, so i guess this dude is an investor of IJM and perhaps felt that putting down other projects would cause IJM to shine & so will his investments.

Cheers there 'invest'.
May 6, 2009 at 9:31 AMPenang Fan: invest/noble whoever as obnoxious as you are.

Kindly tell me what facts have I presented wrongly from this blog? I am entitle to my opinion and so are you. This is a free world. I was only merely replying to Expat who ask me for advice. I did not need your opinion. Who cares what you think. You are way out of line accusing me of such. So I am also "Young Durian". You are crazy. Bet you are a "good for nothing" old retiree who has nothing to do but going around writing blogs to flame bloggers that does not agrees with your line of thinking. Go take a hike!
May 6, 2009 at 10:27 AMnoble: PenangLover - you like to hike also? When are you free? We can all go for hikes.

Common there... labels like "shame on you", "obnoxious", "good for nothing"... have i said anything like that to you... i was just replying to 'invest'. Why are you so touchy if you are not YoungDurian?

I guess you must be an English teacher eh, with great command of adjectives. Guess you should have time for hikes. See you around.
June 12, 2009 at 3:19 PMUnknown: I heard my friend is working in IJM say Mr Yeap
is one Boss of partner in Platino project, dont no when Platino OC obtain can face tis problem again same as BL Avenue & Garden?
June 14, 2009 at 11:45 PMUnknown: facilities and plan is realy nice but price is kana sai.
July 2, 2009 at 2:06 PMGnek: IJM is ramping up the development of Platino; they have reached 20+ floors now and the progress looks solid.

Across the highway, IJM is soft-launching Linear Light this weekend (July 4th) with much higher psf. That should drive up Platino's prices.

The timing is in-line with JetStar Asia's opening of their new service btw Penang and Changi. Expect to see some savvy and cash-rich Singaporeans to snap up some properties.
July 12, 2009 at 7:00 PMKK: should i trust youngdurian previous post "50 Bumi units will be released by end of Dec 2009-or when 80% completed" ???

hold my horse?
July 20, 2009 at 1:03 PMGnek: He may be right but I doubt a developer with the track record of IJM will put aside as many as 50 units (out of 228) until this late of the game. It just doesn't make sense. Back in late 1997, choice units had already been snapped up before the preview launch and I know for fact that a few Type-F Bumi units were released.

Even if these reserved units are being released, they will be priced significantly higher than the earlier batches. That's just property investment 101.
July 21, 2009 at 12:59 PMGnek: Just notice a typo. I meant during the preview launch of Platino in 2007, not 1997.
August 17, 2009 at 8:01 AMGal-to-Women: how much is the current price?
August 28, 2009 at 12:16 PMGnek: The last remaining unit of the penthouses has been sold, over RM2Mil. It comes with an infinity pool. I believe the remaining units are still selling at slightly higher psf than it was launched in late 2007.

Interestingly, some units of Platino were sold during the launch week of Light Linear. Some frustrated investors ended up investing in the Platino project.
September 6, 2009 at 12:06 PMUnknown: very funny people, can't bought "The Light Linear" then bought Platino, like bought "kuih", same thing as cannot married with oldest sister then married youngest sister also never mind, ha ha , Penang people.
September 12, 2009 at 2:10 AMPenang Fan: Well Platino seems a good buy because it is classified a Luxury Condo while Light Point or Linear are not beside Light's condos per sq ft is much more then Platino. Further Platino will be ready sooner and is not build on reclaimed land. All these make common sense that Platino Condos are better value.
September 18, 2009 at 4:12 PMGnek: If you attended the recent Penang Property Fair, IJM no longer showcased the Platino project at its booth. Not sure this is because they have sold enough units of it to take it easy or the focus of the company is now entirely on the "Linear" project.

An article that talked about the property fair also featured a Penang couple who have purchased a unit of Platino as their retirement home.

Many upcoming projects around the island are now setting their selling prices around the RM500/psf range, and some are not even luxury condos.
October 24, 2009 at 3:55 AMPenang Fan: Gnek what's the progress like in Platino now? Thanks for the Aug picts posting. Looks like they are serious in delivering it by Sept 2010 as they expected.
October 26, 2009 at 1:40 PMGnek: The project is now 60% completed. The construction has reached the penthouses. Based on this progress rate, it should finish ahead of the schedule next year.

I stand corrected on my previous post on the bumi units. Non-bumi units have been fully sold; the bumi lots are indeed still available but only limited units. For those who invested in Platino when it was launched in 2007, the price has appreciated about 20%.

Even with that ROI, Platino's psf is still relatively affordable compared to what IJM will be selling the Linear Point (estimated at RM600/psf and above)for, in the weeks to come.

It will be interesting to see how investors, foreigners and speculators in particular, react to the new 5% capital gain tax starting in Jan 2010, on the Point's launch. Can't wait to see what balloting format(s) IJM will be throwing at the potential buyers this time around.
October 29, 2009 at 12:52 AMPenang Fan: Thanks, Gnek for your insight. I think Platino sales will pick up after OC is obtained. The final quality of this so call "Luxury" will be a good show case of IJM best! I have faith that the finished product will be top notch without a doubt. IJM make the wrong moved. Had Platino been built on the existing Bayswater Condo it would sell better. Most of Platino view is greatly obstructed by Bayswater block. You would have thought a great developer knows what they are doing. This planner ought to be fired. What a pity.
October 29, 2009 at 7:16 AMLeprechaungal: ???wats the current price for a 1800 sq ft unit ..any idea?

highly appreciated
October 29, 2009 at 10:22 AMPenang Fan: The last 20nd floor E type went for $900,000. That was 2056 sf! $430 per sq ft.I believe there are still a few road facing units left.
November 3, 2009 at 7:52 PMUnknown: Can anyone advise me the maintenance fee psf plz. Thank you.
November 4, 2009 at 10:23 PMPenang Fan: Hi Catherine, the monthly maintenance fee is 20 cents per sf. Reasonable charge for all the 1st class resort facilities offered. Heard the gym is very high tech/high end type too.
November 14, 2009 at 1:23 PMrooney: Which floor and what type of unit ?
November 14, 2009 at 1:26 PMPenang Fan: Why pay $850K when you can still get at Developer price? There are still some units available if you are interested.
November 14, 2009 at 1:27 PMrooney: Not sure how luxury of platino is going to be ? is it because just a luxury word in front of Platino ?
November 14, 2009 at 11:45 PMUnknown: Visited IJM office and understand only left Bumi units... May be released by coming Chinese New Year with the show unit of type B & B1 (if not mistaken) done up.
November 15, 2009 at 4:10 PMPenang Fan: There are reports of several construction defects at the Spring Condos also built by the same developer IJM. I hope Platino will have no such issues considering it is a luxury condo. This problem will affect future sales of IJM who is known for good quality workmanship before. See:
http://www.apartment-penang.com/2009/11/spring-condo-bathroom-leaks.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ApartmentPenang+%28Apartment+Penang%29&utm_content=Yahoo!+Mail
November 16, 2009 at 1:05 AMrooney: Yeah. I hope so !! Cross our fingers for all buyers.

The quality of work is really bad on the SPRING.
November 16, 2009 at 4:15 AMPenang Fan: I can't imagine if IJM will be careless even with their Flag Ship Lux. Categories. Just imagine, Owners posting on Utube "Cracking walls, Kitchen sink and bathroom leaking found in IJM luxury units " What a joke it will be.
November 16, 2009 at 8:33 AMPenang Fan: Good reputation takes years to build but ruining it only require just one mistake. Like a stubborn stain it will be remain forever. People tend to remember bad things better then good things. IJM just lost her good reputation. A mistake to put in the wrong workers at the risk of it's own good reputation. What ever little monies it saved from hiring bad workers it will take 1000x more monies to brighten up this tarnished image again.
December 15, 2009 at 3:10 AMPenang Fan: Hi Gnek, How's the Platino construction going? Did they set up a show apartment? I was told they might in order to push the sales of the remaining unsold units.
December 20, 2009 at 8:35 PMGnek: Hi Penang Fan,

The external structures of Platino are completely done. IJM has ramped up the activities in the recent months. There is a chance that the units will be handled over in end of Q1 2010. However like all other housing projects, there will be some forms of delay.

I was told IJM would be building a showroom on one of the lower floors some time next year. But with the bumi-units selling well and almost sold-out status, not sure if that will make them rethink the showroom strategy.

Across the highway, the Light Point's launch went relatively well this past Saturday (Dec 19th). Unlike the Linear, there was no bulk purchases but that didn't help most of the potential investors in my opinion. Of the 88 units, only 28 units are smaller than 2000sf. The rest are pretty large units, topping with the penthouses and duplexes (3000sf-4000sf).

Good luck to those who went for the balloting. The Point sure is an impressive looking project. Happy holidays all!
December 22, 2009 at 10:40 AMPenang Fan: Thanks Gnek for the insightful information for Platino. I will be happy if I can move in by 2nd quarter 2010. As for the point I was not surprised there wasn't any bulk buyers. At that price $600 a sq ft. There is little chance for these crocs. to make a kill when completed. $600 sf for Pg is still too high. Considering Platino at $400 sf after 2 years there are still units left. Realistically the ideal size should be less then 2000 sf to sell. I would be happy a modest 3 bedrooms with 1600 sq ft. Sometime I don't understand how these big heads determine the market trend. As far as I see they are not realistic. I think they will sell more and faster if they concentrate on modest size luxury condos. It;'s more affordable for everyone.
February 24, 2010 at 11:59 PMGnek: To address Penang Fan's Nov 2009 concern on the build quality of the Spring condo, I spoke to a IJM staff about the many issues raised by the online communities. They are aware of them and have effectively discontinued using the subcontrator(s) that were largely responsible for the poor workmanship.

It's good to know IJM haven taken action on the matter.
February 28, 2010 at 2:49 AMPenang Fan: That is reassuring to know that IJM has removed these bad subcontractors, Gnek. Let's see how the Platino workmanship will measure up being a LUXURY class. Also thanks for the photos update for Feb. Since you spoke to IJM staff. Any idea when buyer can take delivery?
February 28, 2010 at 11:35 AMAnonymous: interested on this project. just wondering that how much is the current price from developer?
March 3, 2010 at 10:51 AMGnek: Penang Fan, my guess is around Sept 2010.

Does anyone know when they will release the remaining bumi-units for booking?

The psf for these units will set the benchmark for Platino in the secondary market. It will also show how much IJM value their developments on this side of the Jelutong highway after the successful launches of Light Linear and Point.
March 8, 2010 at 11:40 PMPenang Fan: Gnek, I think the Bumi lots were released for sale way back in Aug. 2009 if I am not mistaken.
March 12, 2010 at 6:17 PMAnonymous: U must be joking...
2659 sq ft for 1.8mil?
Tat is 677/sq ft!!!!

Tat wud push all units to > 1mil!
March 14, 2010 at 4:56 AMPenang Fan: Original price was only about $1 million. The seller is trying dump his condo with a big wind fall.
March 19, 2010 at 1:02 PMPenang Fan: Does any body know when will OC be issued? The agreement said around Sept 2010. Wonder if there will be any delays.
April 8, 2010 at 3:28 PMMr ABC: is there any show room available now?
April 8, 2010 at 4:08 PMUnknown: Forget about IJM showrooms. They built their showroom not for their customers to view. Dont believe me, check out their showrooms for The Spring and Summer place.
April 8, 2010 at 6:36 PMPenang Fan: Hi MO, what do you mean that IJM build showroom not for customers? Did IJM build a showroom for Platino? They should build one to show off. After all these showrooms can be some form of advertisement for their quality workmanship for up and coming projects eg The Light Linear/Point/waterfront, Marina Sq. etc. It gave them lots of advantage to have a showroom. Kindly elaborate.
April 8, 2010 at 7:34 PMPKC: IJM dont build any show room in Penang.only c floor plan then ppl almost buy all.
April 9, 2010 at 12:22 AMGnek: I think IJM's decision to build a showroom for Platino will depend on how well the Bumi units release launch do in the next few weeks. We may see a showroom if they have many units left to clear, otherwise tough luck...

Anyone knows about the pricing of the bumi units?
April 10, 2010 at 11:37 AMPenang Fan: I heard the Bumi units are going for about $480 per sf. depending on what level. That's almost $100 per sq ft more then original prices at around $380 per sf.
April 12, 2010 at 12:35 PMGnek: IJM has quite some activities lined up for the mth of April. They released the bumi units for Summer Place this past weekend; as reported keen buyers queued up a day before the release. It seems serious investors continue to put their money on IJM properties.

This coming Saturday (Apr 17th), IJM will be releasing Platino's bumi units (about 50 units). Lets see what sort of market reaction this will generate. As Penang Fan found out, the psf has gone up quite a bit.
April 14, 2010 at 12:18 PMGnek: In light of the Bumi-unit release launch scheduled for this weekend, IJM has updated the official Platino web site with some April 2010 site progress photos. Follow this link - http://www.platino.com.my/
April 15, 2010 at 6:08 AMPenang Fan: Not to mention there will be a soft launch for The LIGHT COLLECTION PART1-SERIES. Price at Rm 520 per sf onwards for the condos and Rm 820 for the water villas. There will be 152 units- 8-Storey Condo and 24 Water Villas. Every unit comes with Air-condition units, Water Heater, Centralized Water Filtration, System, FFTH (Fibre to the Home), Centralized Vacuum SystemAll are freehold and on reclaimed land. Cheapest from Rm 916K till 3 million plus. Price seems high to me! But there will be buyers for sure. Will see.
April 17, 2010 at 12:22 AMUnknown: Today a few Bangla got a day off, got into their street dresses. With BO and all, march over to the IJM office and started the queue for the Platino Bumi lots sales. Then the frantic calls followed, from IJM sales people to potential buyers who have registered to come join the queue. Bo Queue Bay Hu liao!!!
April 18, 2010 at 11:21 PMUnknown: What is the latest price per sq feet now?
April 19, 2010 at 12:03 PMUnknown: IJM won't sign consent for the transaction during construction period.
April 19, 2010 at 12:45 PMUnknown: price check for 1819sf, 16th floor, current market value is how much?
April 19, 2010 at 9:37 PMPenang Fan: Base on new pricing at Rm 480 per sf. A 1819 sf would be around Rm 873k! It almost 25% increase from the opening price - 2 years ago.
April 22, 2010 at 9:16 PMUnknown: Last Sat., saw many of the 2500 sq ft units (Type B1) still available @ about 380 psf. High floor too. 5 aircon, 3 carpark and free S&P. Why pay RM1.23mil?
April 23, 2010 at 12:47 AMUnknown: Oh i thought all the bumi lots have been sold.
Is there any units available to buy as well?
April 23, 2010 at 2:41 AMGnek: No, not all bumi-units are sold. There are still some left.

The pricing is not solely determined by the type (size), but also the location (Tower A vs. Tower B), the facing, and of course the level of the unit is on.
April 23, 2010 at 12:39 PMUnknown: When is the expected OC?
April 23, 2010 at 6:47 PMKevin: platino is luxury condo but the view kena block by bayswater... bah! those lower floor platino...cannot see anything except their neighbours at bayswater....
April 23, 2010 at 10:34 PMPenang Fan: You can still get the lower units facing the roads at original prices as there are no takers! The higher floor units were sold at around Rm450 psf. I was told about 60% Bumi lots were sold on opening week.
April 27, 2010 at 11:08 AMPenang Fan: Block A, 1st floor- F unit at 1819sf. This unit has no view and faces the road. IJM is asking for a hefty Rm760.000. Still there is a buyer eyeing it(awaiting bank approval). That's Rm420 per sf. Would you buy it?
April 27, 2010 at 2:43 PMGnek: Penang Fan,

For someone who intends to flip the property, the upside is more limited and it's probably a risky move. However to buy it for own stay, it is very possible.

Type F (1819sf) of Patino easily outsizes the largest layout/Type A of Bayswater (1636sf). Given the well-documented success of Bayswater, Type A should fetch a decent value in the secondary market. A Bayswater owner may choose to "supersize" his home and go for the better interior finishing, by topping up the difference btw the two properties. That's just one scenario I can think of...
April 27, 2010 at 8:41 PMPenang Fan: NEC Andy, the 1 bedroom unit(1071 sf) was originally priced at Rm385,000. There are only 2 such units one on each block- 14th Fl. I would think it is worth at least Rm550,000 now given the F unit on 1st floor with no view at 1817sf(about 700sf bigger) only went for Rm760,000.
May 11, 2010 at 11:23 PMUnknown: Due to the current economic situation, do you think it's a good buy for this type of apartment?
May 13, 2010 at 4:17 AMLeprechaungal: looking for the type F.. believe its the smallest unit with 3+1 rooms..any availability from developer side?also do u guys know how much is the monthly maintenance?
June 19, 2010 at 6:30 PMrooney: Thank you to update the latest photos for us.
there will be a show unit ready by the end of this month.

Is this project completely sold ? Fettes Residence looks better than Platino? please share your thought.

thank you
June 20, 2010 at 4:13 AMPenang Fan: Nice photos Gnek! Any idea when OC will be issued? I asked Platino they were telling me Oct. Thought that was a very conservative estimate. I expect something like around Sept. I assume they are rushing up all the interior walls and fixtures. Can't wait to see the completed pool and garden. I expect nothing shot of a 5 star hotel like ambiance.
June 22, 2010 at 12:57 PMPenang Fan: I do not agree with Rooney. Platino Luxury condo is much much better. It has 4 season landscape, reflection pools in the elevator lobby, water falls and just compare the master bath room between Platino and Fettes Residence. Platino has separate shower,wc and double basins- F.R. has no such luxury. Tesco H. Market and designers R&B eGate restaurants( is within walking distance ). Fettes Residence looks pale by comparison is true!
June 22, 2010 at 8:44 PMUnknown: Hi penang fan, thanks for the info. I went to look at the showroom on fettes residence few months ago. The materials given by the developer looks better than platino. Especially the workmanship looks excellent although I haven't seen the show unit of platino. I hope the workmanship is comparable those high end apartment.

Based on the outlook of platino, it seems to me that the lobby isn't look that grand as the word describe luxury. I do hope the platino will give us some surprises when the units completed by the end of this yr.
June 25, 2010 at 11:28 PMPenang Fan: Stephen you said you never seen the Platino workmanship yet you said Fetter Residence workmanship is better based on their show room. Aren't you jumping to conclusion too quickly. Why don't you wait until Platino show room is ready. Visit it then you can open your mouth with factual comparison between the two!
June 27, 2010 at 7:52 AMPenang Fan: Stephen, I got a unit 2 years ago at developer's price of $380. prices has gone up since. I was told there would have a showroom by July. Please let me know what you think after your showroom viewing.
June 29, 2010 at 3:10 AMGnek: I don't see any point in comparing Platino to Fettes Residence as both projects are different in so many ways. Although a single-block development, Fettes Residence is attractive because it is located in the matured area of Tanjong Tokong and is near to E&O's high-end STP project.

Platino, on the other hand, is part of a multi-years masterplan undertaken by IJM. eGate, Tesco, and Bayswater are only the beginning. I don't particularly see workmanship as the strength of IJM. The internal finishing of the highly successful Bayswater, in my opinion, is so-so and average. But Bayswater is well-priced for its amenities (swimming pool, tennis court and cycling track) and proximity to Penang Bridge, Jelutong Highway, Tesco, to name just a few. This is where I think IJM's real strength is - mid to long term planning and selling these "values" to the buyers of its projects.

Buying or investing in a property is a big-item decision. Do your own homework and the two investing rules that Warren Buffett lives by should apply.
July 2, 2010 at 12:18 PMUnknown: Thanks for the comments. Do you think that will be a bit over crowded in that area in term of the traffic as the platino is surrounded by Tesco, egate, bayswater as well. You will only have 2 entrance to go in that area.
July 2, 2010 at 8:47 PMUnknown: Hello Stephen, is there anywhere else in Pg that is not a bit crowed? Fettes Residences?
July 4, 2010 at 7:44 AMPenang Fan: clement! Fettes Residences is boast of grave yard view, Only one entrance to the project and Tanjong Tokong road is more congested then the Tesco surrounding area. Fettes Residence is more expensive then Platino Luxury aapartment at $500 a sq ft. You still think F.R is a good buy????
July 4, 2010 at 9:25 PMrooney: seems like Platino do not have a luxury lobby or waiting hall in its building like just as other super condo?
July 5, 2010 at 6:46 PMJane: Star said OC already obtained...true?
July 5, 2010 at 10:59 PMPenang Fan: That cannot be happening- Jane. I only paid 85% of the total price. IJM would haved billed me for another 10%. There is a 5% retention to be released 6 months after OC. Which day did Star reported that? I will contact IJM directly to find out.
July 9, 2010 at 5:12 AMPenang Fan: I contacted IJM and was told that the reported OC been granted is untrue. They have even yet to arrange for an OC inspection to date. They estimated that OC will happen sometime in Sept.that's if everything goes well. They are still working on the swimming pool eg. tiling, piping and filtration. They can only get an OC inspection once all facilities offered are completed.
July 13, 2010 at 11:51 PMUnknown: Are you sure after OC, the price will appreciate more?
July 14, 2010 at 6:16 AMtan: It is a challenge to sell any condo >600K. The monthly interest paid is killing. The asking price of Uban Residence has been dropping from 650K-750K to 600K-650K. The asking price of Delima Palace also has been dropping from >680K to 650K.
July 14, 2010 at 10:44 AMtanprop: Personally i wont invest in any condo which priced higher than landed property. To rent will be more difficult, and to sell also tough as buyer will ask why don't i use the money to buy landed instead.
July 14, 2010 at 3:26 PMDD: So far i have experienced far better return on both rental and price appreciation from condo compared to landed property. I am talking about within 2-5 years period. Somehow landed property prices do not appreciate that much after OC compared to high end condos. Foreign investors/buyers tend to have more interest in high end condos than landed properties. For longer terms >5yrs, landed properties will have more stable appreciation.
July 14, 2010 at 4:29 PMUnknown: True DD but i dont see there are lots of foreigners coming to Penang now compare over the last few years. I think it's pretty hard to get rid of the platino in current market conditions due to higher interest rate and lack of foreginers coming to our town.
July 14, 2010 at 10:16 PMDD: I was having the same thought until recently when i travels to HK quite freq. The CX flights HK-PEN are always full, surprised to see quite a lot of HK, foreigners, Msians working in HK/China frequent back to PEN often. I guess due to the short 3 hr flight. A lot of them seemed to have a property in Pg. When I asked them which hotel do u stay, most of their replies "I have a condo in Pg". No wonder Pg properties so expensive now. Even the condo i m stayin now, a lot of foreigner families mainly Koreans. They probably looked the same like us and we never really pay attention. Just sharing my experience.
July 15, 2010 at 4:02 AMPenang Fan: What may seems expensive to locals are considered cheap in other more developed Asian countries eg H.K.,Taiwan,Japan. Selling prices of condo in Penang is no where close to the prices these Asians pay at home. Unless the Gov. do something locals will be priced out by foreigners like them. I think the Gov. should do something since locals cannot afford to buy a home in their own country. Perhaps imposing a hefty 50% tax for foreign buyers and using these 50% to drop prices for locals will make sense but then locals are greedy lots too. They might sell such subsidies condo for their own profit. Restricting one home for each person may help to prevent that.
July 15, 2010 at 10:32 AMDD: Ya, what you are saying is similar to what Spore gov is doing. One HDB one person/family. While still having private super condo to skyrock, citizens n PRs still can afford a decent place to stay. Again, that is spore, and this is bolehland. Don't think bolehland gov will change anything.
July 15, 2010 at 11:30 AMPenang Fan: It's a shame. Soon locals will have to rent from foreign owners/investors to live in their own country as locals cannot afford to buy. The Gov. should wake up and help her own people.
July 16, 2010 at 1:12 AMUnknown: I think Malaysia is going to face a hyperinflation over the next few years. Gas price, sugar price up, blr up, property up, toll up etc.... This is definitely increase the burden to Malaysian. We do not have a govt like Singapore to offer 1st home buyer. Our low cost apartment is really bad in condition. It is better off to stay in china man.
July 17, 2010 at 6:19 PMcondomana: hi penang fan,

living in m'sia, i think the last thing you want to worry about would be not being able to afford a property of your own.if you go to butterworth, rm350k would buy you a big 3-storey terrace house or even a double storey semi-d, with pretty decent neighbourhood. but if you are picky, want to stay in up-scale neighbourhood on penang island, then your pocket must be up-scale too lah. you go s'pore, also no hdb in orchard or district 10 mah!
July 20, 2010 at 5:39 PMDD: condomana, you are right. just like HK, if you cannot afford HK Island property, then move to Kowloon. if you cannot afford Kowloon then move to New Territory.
July 23, 2010 at 6:47 AMPenang Fan: Stephen,

The original price was $380 psf in 2008. Prices has gone up by 20% or more since. So at $480 psf factor in the interest, it is a fair price. I wouldn't pay $550 psf though. As for the show room. Why don't you call IJM?
IJM Properties Sdn Bhd
Suite 01-01, Menara IJM Land,
1, Lebuh Tunku Kudin 3,
11700 Gelugor, Penang, Malaysia.
Tel: 04-296 1222
Fax: 04-296 1223
General E-mail: sales@ijm.com
July 26, 2010 at 11:26 PMPenang Fan: 500K for a 2476 sf. Is that for real???
July 26, 2010 at 11:50 PMLina: wrong info
August 11, 2010 at 6:02 PMJane: The fencing at Platino is very low class. Thieves can easily break in. They use green wire mesh type near the bushes area!
How can IJM cheat on such low quality fencing?
Other parts of fencing are also very poor. Thieves can climb in easily!.
All Platino buyers should complain to IJM and change all the fencing....
August 11, 2010 at 6:10 PMAnonymous: Can someone take a picture of the fencing and put it up here so that everyone can see that IJM cheat?
August 11, 2010 at 9:27 PMPenang Fan: I think more owners should voice out with IJM if that is true. Green wire mesh fencing for a luxury Condo is unacceptable. One reason people buy a luxury condo is for security. IJM must be out of their mind to do something like this. No one will buy luxury condo from them if they are so cheap.
August 11, 2010 at 10:09 PMAnonymous: I also noticed the fencing is very low quality on the southern side of the Condo, near the bushes. Just green wire mesh with some steel posts. No concrete base if compared to Bayswater. No barbed wire too. Someone with wire cutter can cut into it in less than 5 minutes. IJM should not call this a Luxury Condo if the standard is below Bayswater!

The fence should be the same for the whole perimeter! Not cheating on the places that we can't see!
August 11, 2010 at 11:10 PMUnknown: Even the standard fencing look cheap, just low level metal bars type... totally see through. As compare to Bayswater with designer columns looks so much better.
Also the entrance is like any low cost flat; no arch, no big gates nor grand guard house. Actually the guard kennel is like fifty feet away ... how to maintain security?
August 12, 2010 at 1:37 AMUnknown: Well the overall of the project isn't look like the way Ijm described it so called high end condo, especially if u don't read the name of the condo "platino luxury condo"

Why should investors paid higher premium to have a low quality of work and higher maintenance than bayswaters.

The enterance of the project look like a low to mid cost condo. Can the developer do something? Ijm failed to deliver it's 1st high end condo in Penang. Can we trust in any other Ijm project going forward?
August 12, 2010 at 3:32 AMPenang Fan: So far the finish of "Luxury Platino" at least from the finish fencing and exterior works) look disappointing and shabby. If that is their yard stick to go by as "LUXURY" IJM will have a hard time selling their highly ranted so call "Luxury Condos"in future. The price they charge are luxurious but the goods delivered sub standard quality and inferior looking. Shame on IJM.
August 13, 2010 at 3:15 PMcondomana: Dear Jane,

I think you should worry more about rapist than thieves.
August 13, 2010 at 3:29 PMcondomana: Dear All,

My personal conclusion after reading all the postings.

(1) Platino's quality is below expectation.
(2) I have never seen a "high-quality" IJM condo in Penang so far. The reason Sri Pangkor was expensive is not because of the quality, it's because of the location and the fact that many units are owned by the "Lim Cheng Teik" family, therefore price control easier. IJM is NOT a luxury condo builder anyway. As far as i know, IJM is only good at building condos near dumpsite!
(3) Bayswater condo owners are taking this ooportunity to talk down Platino, as they fear it might affect Bayswater's value. I suspect there is an over supply of condos in that area that is causing this sentiment of insecurity.
(4) There are lots of speculators for this project judging by the number of units for sale even before OC. These are the greedy bunch of people who get preferential treatment from IJM for buying at "pre-launch" period.
(5) Let's all boycott IJM!! and don't take the bait anymore for The Light project!
August 13, 2010 at 5:35 PMJane: Bayswater area got rapist?
Really?

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